Eagle Bancorp, Inc. Announces Quarterly Dividend of $0.17 (NASDAQ:EGBN)

Eagle Bancorp, Inc. (NASDAQ:EGBN) announced a quarterly dividend on Thursday, January 23rd,Wall Street Journal reports. Stockholders of record on Friday, February 7th will be paid a dividend of 0.165 per share by the financial services provider on Friday, February 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Friday, February 7th.

Eagle Bancorp has increased its dividend payment by an average of 7.5% annually over the last three years. Eagle Bancorp has a payout ratio of 22.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Eagle Bancorp to earn $2.97 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 22.2%.

Eagle Bancorp Stock Up 2.8 %

Shares of NASDAQ:EGBN opened at $25.28 on Friday. The business has a fifty day moving average of $27.12 and a 200-day moving average of $24.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.86. Eagle Bancorp has a twelve month low of $15.99 and a twelve month high of $30.94.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Eagle Bancorp had a positive return on equity of 4.69% and a negative net margin of 6.65%. Analysts forecast that Eagle Bancorp will post 2.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EGBN. Piper Sandler began coverage on Eagle Bancorp in a research report on Monday, October 21st. They issued a “neutral” rating and a $27.00 price objective for the company. StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods boosted their target price on Eagle Bancorp from $25.00 to $32.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. The company also offers various commercial and consumer lending products comprising commercial loans for working capital, equipment purchases, real estate lines of credit, and government contract financing; asset based lending and accounts receivable financing; construction and commercial real estate loans; business equipment financing; consumer home equity lines of credit, personal lines of credit, and term loans; consumer installment loans, such as auto and personal loans; personal credit cards; and residential mortgage loans.